Seoul -LRB- CNN -RRB- -- Is she or is n't she ? Pregnancy rumors and speculation are swirling around the world but the lady in question is saying nothing .

This could easily be about a Hollywood star but this time , we 're talking about the world 's most reclusive nation , North Korea , and its first lady .

Ri Sol Ju , the wife of young leader Kim Jong Un , has not been seen in public for around two months , according to North Korea watchers . A photo released by the state-run news agency KCNA shows her back in public and wearing a long coat that could be hiding a bump . Ri watched a football match and attended a musical concert with her husband Monday to mark the 60th anniversary of the Kim Il Sung Military University .

Read more : North Korea 's leader still a mystery

South Korean media has kicked into overdrive to speculate on whether she is pregnant or whether she was kept out of the public eye as a disciplinary measure for a perceived slight . Local media has claimed she may have fallen out of favor for not wearing a lapel pin of the former leaders , a requirement for adult North Koreans .

`` Rumors first came out from officials who attended the same event , '' said Kim Yong-hoon , head of the North Korean desk at Daily NK , an online newspaper based in Seoul that focuses on North Korea . `` They started questioning and speculating if she was pregnant and it has spread throughout the country and that 's how we heard about the rumors . ''

Kim says the interest in whether Ri is pregnant is far higher outside of North Korea than it is inside , according to his sources inside the isolated nation .

Read more : Power consolidation inside North Korea

John Delury , assistant professor at Yonsei University says this global interest speaks volumes about the way any news about North Korea is handled .

`` Do we track the last time Michelle Obama showed up ? '' Delury says . `` Our minds are so trained to do this with North Korea that we miss the bigger picture which is there is something new -- and by almost international standards we could say more normal -- about the way she appears in public . ''

By announcing Ri Sol Ju as his wife and having her accompany him on many public engagements , Kim Jong Un has shown a personality very different to his late father , Kim Jong Il .

While producing a son and heir for a dynastic regime is considered very important , Delury points out `` that 's also true for the families of the ` chaebol ' or business conglomerates of South Korea , for Hyundai and Samsung , '' he says . `` Even in the U.S. and UK , powerful families are concerned about producing the next generation . ''

Read more : Kim Jong Il 's sushi chef returns after fleeing for life

Journalist Jungeun Kim contributed to this report

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Rumors are swirling whether the first lady of North Korea is pregnant

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Ri Sol Ju , wife of Kim Jong Un , reappeared in public after a two-month absence

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Photo appeared in state media showing her wearing a long coat , sparking speculation

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Analyst : Rumors first started from North Korean officials who attended the same event